The outfit reported $2.64 billion in consolidated revenues which is down 21.43 on last month but up 7.33 per cent on last year.

This means that the company has made more than 6.21 per cent compared with the same time last year. This is not bad considering that its business model depended on Apple's iWatch doing well – which it didn't.

Quanta said that it did not expect to see significant contribution from Apple Watch shipments until the fourth quarter – in otherwords it is hoping that lots of fanboys will have dumber relatives who will buy them for Christmas.

Quanta shipped 3.2 million notebooks in July, down from 4.1 million units in June.

Quanta expects its August and September notebook shipments to grow and its third-quarter shipments may produce better results than those for the second quarter.

So long as it is not leaning on the iWatch to pull its nadgers out of the fire, it should be OK.